In the last trading session, 2.16 million Gannett Co Inc. (NYSE:GCI) shares changed hands as the company’s beta touched 2.51. With the company’s per share price at $4.25 changed hands at -$0.11 or -2.52% during last session, the market valuation stood at $627.30M. GCI’s last price was a discount, traded about -39.06% off its 52-week high of $5.91. The share price had its 52-week low at $1.66, which suggests the last value was 60.94% up since then. When we look at Gannett Co Inc.’s average trading volume, we note the 10-day average is 1.98 million shares, with the 3-month average coming to 1.58 million.
Analysts gave the Gannett Co Inc. (GCI) stock a consensus recommendation rating of Buy, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended GCI as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Gannett Co Inc.’s EPS for the current quarter is expected to be -0.13.
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Gannett Co Inc. (NYSE:GCI) trade information
Instantly GCI was in red as seen at the end of in last trading. With action -14.83%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 84.78%, with the 5-day performance at -14.83% in the red. However, in the 30-day time frame, Gannett Co Inc. (NYSE:GCI) is -1.16% down. Looking at the short shares, we see there were 13.92 million shares sold at short interest cover period of 9.28 days.
The consensus price target for the stock as assigned by Wall Street analysts is 5.55, meaning bulls need an upside of 23.42% from its current market value. According to analyst projections, GCI’s forecast low is 5.1 with 6 as the target high. To hit the forecast high, the stock’s price needs a -41.18% plunge from its current level, while the stock would need to soar -20.0% for it to hit the projected low.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of 633.85M. 3 analysts are of the opinion that Gannett Co Inc.’s revenue for the current quarter will be 664.61M. The company’s revenue for the corresponding quarters a year ago was 652.87M and 669.4M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -2.90%. The estimates for the next quarter sales put growth at -0.70%.
The 2024 estimates are for Gannett Co Inc. earnings to decrease by -95.00%.
GCI Dividends
Gannett Co Inc. is expected to release its next quarterly earnings report in October. During the past 5 years, the average dividend yield was 18.87 per year.
Gannett Co Inc. (NYSE:GCI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.46% of Gannett Co Inc. shares while 74.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.61%. There are 74.79% institutions holding the Gannett Co Inc. stock share, with APOLLO MANAGEMENT HOLDINGS, L.P. the top institutional holder. As of 2024-06-30, the company held 9.3524% of the shares, roughly 13.17 million GCI shares worth $60.69 million.
ALTA FUNDAMENTAL ADVISERS LLC holds the second largest percentage of outstanding shares, with 9.3387% or 13.15 million shares worth $60.61 million as of 2024-06-30.
